Given the Least Squares Regression Line $\hat { y } = 5 - 2 x$

question 122

Multiple Choice

Given the least squares regression line $\hat { y } = 5 - 2 x$ :

• A)the relationship between x and y is positive.
• B)the relationship between x and y is negative.
• C)as x decreases, so does y.
• D)None of these choices.

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Definitions:

Demand and Supply of Wheat

The relationship between the quantity of wheat buyers are willing to purchase and the quantity of wheat producers are willing to sell at various prices.

Temporary Price

A price set for a product or service for a limited period before it is expected to change.

Surplus

The situation in which the quantity of a good supplied exceeds the quantity demanded, often leading to lower prices.

Shortage

A market condition when the demand for a product exceeds its supply at a specific price.